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republicans have been going down. >> obama's 54%. right now it's a democratic advantage. >> democratic advantage right now. >> midnight monday still a democratic advantage? >> no. if you go over the cliff, everyone's in trouble. >> wednesday morning next week which is only a week away and we're into 2013 and no deal's been made, do you accept the fact that both guys are in trouble? >> i think it's a jump ball. i'm not sure what happens at that point. it depends on what the markets do. we'll say this. president obama doesn't have to worry as much as the members of congress do because he's not on the ballot again. >> but if there's a second recession, doesn't that kill his second term? >> i hear republicans and democrats and obama want to come together on middle class rates. i think they'll make a deal in early january to extend some part. >> but are you saying this doesn't really hurt? if they go sometime next friday, nine days from now, will the market go down and come up or will it plunge? >> the republicans want to cut a deal befor
republicans have been going down. >> obama's 54%. right now it's a democratic advantage. >> democratic advantage right now. >> midnight monday still a democratic advantage? >> no. if you go over the cliff, everyone's in trouble. >> wednesday morning next week which is only a week away and we're into 2013 and no deal's been made, do you accept the fact that both guys are in trouble? >> i think it's a jump ball. i'm not sure what happens at that point. it...
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Dec 27, 2012
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they were delusional about the whole presidency, about president obama himself. it was so self-evident to him that he was incompetent, that this president was a fluke, that his support had just faded away and that the an tianti-obama fo were so heavy that it was going to be a cinch. you didn't need to speak up when this whole thing was going on, because obama was such an idiot, he had to lose. that's the moment they are now in. how could that world view have been wrong? you don't need to invest in people, you don't need to put ar ads up if you're going against an incompetent president. >> it's fascinating reading this globe stuff, because in a way there are no surprises in it, meaning the romney campaign turned out to be as ridiculous inside as it appeared to be from the outside. there was no -- there was nothing surprising going on in there. richard wolf, executive editor, and joy reed, managing editor, thank you for joining me. >> thank you. >>> coming up, i'm actually going to finish my christmas shopping right here on tv. that's right, i haven't finished, but
they were delusional about the whole presidency, about president obama himself. it was so self-evident to him that he was incompetent, that this president was a fluke, that his support had just faded away and that the an tianti-obama fo were so heavy that it was going to be a cinch. you didn't need to speak up when this whole thing was going on, because obama was such an idiot, he had to lose. that's the moment they are now in. how could that world view have been wrong? you don't need to invest...
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Dec 27, 2012
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obama and republican leaders remain at a crossroads on reaching a budget deal before the combination of spending cuts and tax hikes kicks in with the new year. on wednesday, treasury secretary timothy geithner told congress the u.s. will reach its federal borrowing limit on new year's eve, threatening the same default that was narrowly avoided last year. in a letter to lawmakers, geithner vowed to take extraordinary measures to avoid a new default but said any remedies would only be short- term. the u.s. has acknowledged for the first time a carried out a september drone strike that killed 11 people in yemen. the victims were packed into ain truck on a desert road in a town of radda when they're struck by a missile. the washington post reports the yemeni government tried to hide u.s. responsibility for the attack by taking credit for carrying it out. the yemeni government also initially claimed only militants were killed in the strike, or forced to withdraw that claim after mourners tried to bring the dead bodies to the gates of the presidential residence. according to the washington
obama and republican leaders remain at a crossroads on reaching a budget deal before the combination of spending cuts and tax hikes kicks in with the new year. on wednesday, treasury secretary timothy geithner told congress the u.s. will reach its federal borrowing limit on new year's eve, threatening the same default that was narrowly avoided last year. in a letter to lawmakers, geithner vowed to take extraordinary measures to avoid a new default but said any remedies would only be short-...
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Dec 27, 2012
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democrats and republicans are fighting about process and issues. republicans want democrats to come up with a new proposal. house republicans say sign on to their proposal, keeping tax ritz rates where they are. when it comes to this impasse, both sides have taken to blaming one another. >> the house of representatives is operating without the house of representative. it's being operated with a dictatorship of the speaker. not allowing the vast majority of the house represents to get what they want. if the 250 would be brought up, it would pass overwhelmingly. >> we wanted an agreement. but we had no takers. the phone never rang and so now here we are five days from the new year and we might finally start talking. >> even if democrats and republicans, their leadership and the president, were to strike a deal on the fiscal cliff, it will take a couple days for the senate to work through it, the house to work through it and right now we're only five days out before the billions of dollars worth of automatic spending cuts and tax increases hit the eco
democrats and republicans are fighting about process and issues. republicans want democrats to come up with a new proposal. house republicans say sign on to their proposal, keeping tax ritz rates where they are. when it comes to this impasse, both sides have taken to blaming one another. >> the house of representatives is operating without the house of representative. it's being operated with a dictatorship of the speaker. not allowing the vast majority of the house represents to get what...
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Dec 27, 2012
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because then obama gets the tax increase that he wanted, right? the republicans aren't seen by their constituency of giving into the tax increase and then they start from there, anew, and you can bring it down to the middle class tax cut. so, why isn't that the way it's going to be playing out and the meeting by the house on sunday, just optic. obama coming back, just optics. >> well, like i said a couple of minutes ago, it's the relief rally versus the negative impact of the fiscal cliff. in other words, the recession their forces in the cliff, so, you picture two, like a sea change. the relief rally where it's going to happen, when we get a deal. then you have the recession their forces of the cliff right after that, so, you can see those two forces. i've been looking -- >> stocks can trade up during a recession. not when you're going into it. as you see going out of it. >> but it's still $130 billion of new taxes that are hitting the economy. maybe 150. i'm looking at two-month vices future versus the eight-month and i've been tracking it. trac
because then obama gets the tax increase that he wanted, right? the republicans aren't seen by their constituency of giving into the tax increase and then they start from there, anew, and you can bring it down to the middle class tax cut. so, why isn't that the way it's going to be playing out and the meeting by the house on sunday, just optic. obama coming back, just optics. >> well, like i said a couple of minutes ago, it's the relief rally versus the negative impact of the fiscal...
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Dec 27, 2012
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under governor bush and with barack obama. this is not a partisan thing. the federal reserve went out of control. both parties share blame for that. host: u.s. job applications fall. host: that is just not on the associated press wire. in reaction to that -- any reaction to that? guest: we will get a real feel until after the christmas season. it is a sick market right now even out with at some good news recently. we are not creating the number of jobs we need to do. the labor participation rate is at the lowest level since the early 1980's. a lot of people have given up and taken early retirement or applied for disability. the labor market has been shrinking. the number of jobs we have today are still several million lower than they were before the financial crisis. we are like an autumn built on the open highway. we should be going 70 miles per hour in good weather. we're going about 20 miles per hour and going about 15 miles per hour. that is not an encouraging report. 350,000 jobs a month in a good report. we've not been a
under governor bush and with barack obama. this is not a partisan thing. the federal reserve went out of control. both parties share blame for that. host: u.s. job applications fall. host: that is just not on the associated press wire. in reaction to that -- any reaction to that? guest: we will get a real feel until after the christmas season. it is a sick market right now even out with at some good news recently. we are not creating the number of jobs we need to do. the labor participation...
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Dec 27, 2012
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president obama spoke to the top republican and the top democrat in both the house and the senate when he was in hawaii before flying back here to washington. still no negotiation sessions have been set, at least not publicly, not formally. the president cut short his vacation, he left his wife and daughters there in hawaii and flew back here to washington to be here at the white house for any last minute meetings on the fiscalcliff. the vice president is scheduled to be here at the white house for meetings as well. over in congress the senate is in session, the first time either the house or senate has been in session for legislative business between christmas and new year's since 1970. and this morning the top senate democrat, harry reid, chided the top house republican, speaker john boehner, for not calling house legislators into session. >> speaker boehner should call members of the house back to washington today. he shouldn't have let them go, in fact. they're not here. they are not here. john boehner seems to care more about keeping his speakership than about keeping the nation o
president obama spoke to the top republican and the top democrat in both the house and the senate when he was in hawaii before flying back here to washington. still no negotiation sessions have been set, at least not publicly, not formally. the president cut short his vacation, he left his wife and daughters there in hawaii and flew back here to washington to be here at the white house for any last minute meetings on the fiscalcliff. the vice president is scheduled to be here at the white house...
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Dec 27, 2012
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time than it has ever been before, i believe the republican party has a platform that is a banner of bold, unmistakable colors and no pale shades. >> you see the evolution of reagan, in his mind, his philosophy as a politician. he talks in this speech about hope and he talks about a future without nuclear weapons and america free without nuclear weapons aimed at them, but it is more progressive and a more optimistic view of the world than in 1976. you can see his anti-communism is devolving, his cultural wisdom is evolving. he has not yet gained at the tax cut philosophy, which fit the so nicely into his outlook of empowering individuals to make their own lives. >> saturday night from american history tv lectures in history, part of four days of american history tv rights through new year's day on c-span3. >> the chief economist of the national association of realtors joined us to talk about housing market, economic expansion, and how the coming fiscal decisions might affect the economy. this is from this morning's "washington journal." host: lawrence yun is the chief economist and s
time than it has ever been before, i believe the republican party has a platform that is a banner of bold, unmistakable colors and no pale shades. >> you see the evolution of reagan, in his mind, his philosophy as a politician. he talks in this speech about hope and he talks about a future without nuclear weapons and america free without nuclear weapons aimed at them, but it is more progressive and a more optimistic view of the world than in 1976. you can see his anti-communism is...
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Dec 27, 2012
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they left town after republicans failed to bring a vote on their own plan b last week. ohio republican congressman steve latourette seems kpas rat -- kpas rated about all of this. you're on your way out and you repudiated the norquist pledge which you signed back in 1994. tell me why? >> well, i repudiated it because, listen, it's not 1994 anymore. the world has moved on. we have the euro, we've had september 11th, a lot of things have happened. and quite frankly, this calls for a big solution. it calls for a solution that nobody yet has proposed seriously and that is everything needs to be on the table. that means revenues, it means spending cuts, it means entitlement reform. until somebody actually acts on what everybody in this town knows what needs to be done, this is going to be a huge problem. >> we are dangerously close to the fiscal cliff. now, in all fairness, not all of it hits on new year's day but some of it does. the white house, we have a white house source who has said this. let me just read this to you. it says we believe very strongly a reasonable packa
they left town after republicans failed to bring a vote on their own plan b last week. ohio republican congressman steve latourette seems kpas rat -- kpas rated about all of this. you're on your way out and you repudiated the norquist pledge which you signed back in 1994. tell me why? >> well, i repudiated it because, listen, it's not 1994 anymore. the world has moved on. we have the euro, we've had september 11th, a lot of things have happened. and quite frankly, this calls for a big...
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Dec 27, 2012
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under governor bush and with barack obama. this is not a partisan thing. the federal reserve went out of control. both parties share blame for that. host: u.s. job applications fall. host: that is just not on the associated press wire. any reaction to that? guest: we will get a real feel until after the christmas season. it is a sick market right now even out with at some good news recently. we are not creating the number of jobs we need to do. the labor participation rate is at the lowest level since the early 1980's. a lot of people have given up and taken early retirement or applied for disability. the labor market has been shrinking. the number of jobs we have today are still several million lower than they were before the financial crisis. we are like an autumn built on the open highway. we should be going 70 miles per hour in good weather. we're going about 20 miles per hour and going about 15 miles per hour. that is not an encouraging report. 350,000 jobs a month in a good report. we've not been able to approach that on
under governor bush and with barack obama. this is not a partisan thing. the federal reserve went out of control. both parties share blame for that. host: u.s. job applications fall. host: that is just not on the associated press wire. any reaction to that? guest: we will get a real feel until after the christmas season. it is a sick market right now even out with at some good news recently. we are not creating the number of jobs we need to do. the labor participation rate is at the lowest...
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spending. >> there are no serious cuts from president obama. there is serious effort at reforming. medicare and medicare. a lot of people don't say social security is enment. it is an insurance program. but it is enormous amount of money flowing out than in and it is getting worse after the baby boomers retire. without reform, you hit a debt crisis guarantee. >> kelly: or guaranteed that crisis in a couple of days new yearee a eve and automatic spending cuts go into affect and that will affect social security that is also a problem that we have seen over the yearrs. we are spending so much money for this and there is no reform. >> it is a billion a week more going out than coming in x. it gets worse because baby boomers are retiring, i don't know how many it is. but there is a massive incrose in the retirement population. that is unfunded. >> clayton: we sound shocked but look at the postoffice. how much money we keep the postal unions and how much of a deficit. >> worry me this question. can you get elected if you say i am going to cut this an
spending. >> there are no serious cuts from president obama. there is serious effort at reforming. medicare and medicare. a lot of people don't say social security is enment. it is an insurance program. but it is enormous amount of money flowing out than in and it is getting worse after the baby boomers retire. without reform, you hit a debt crisis guarantee. >> kelly: or guaranteed that crisis in a couple of days new yearee a eve and automatic spending cuts go into affect and that...
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and this was one of the reasons that president obama had, at the top of his short list, the former republican senator, still a republican, chuck hagel of nebraska. he's somebody who's talked about the pentagon as being bloated, had very specific ideas about how to cut it. but mike, sam, the table, we're hearing that that trial balloon has been popped. that senator hagel has a possibility for secretary of defense, has really lost a lot of altitude. and what they discovered was, there's not a natural constituency for him. republicans, as you guys know, have fought with him over the years. he was against the war in iraq. senator mccain especially has had it out for him. democrats don't like some of the anti-gay positions -- rhetoric he's used in the past, some of which he's now apologized for. so republicans see a threefer. they can go against somebody they've never liked, hit the president and stick up for the israeli lobby which has been fighting him. it looks like we're on to the possibilities, the current deputy, ashton carter or michelle florinoy. >> there's something upsetting about chuck
and this was one of the reasons that president obama had, at the top of his short list, the former republican senator, still a republican, chuck hagel of nebraska. he's somebody who's talked about the pentagon as being bloated, had very specific ideas about how to cut it. but mike, sam, the table, we're hearing that that trial balloon has been popped. that senator hagel has a possibility for secretary of defense, has really lost a lot of altitude. and what they discovered was, there's not a...
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the market doesn't seem to care. >> all the big deal, boehner and obama tried to do last year, still have to do that, simpson boles-type thing. >> by what the secretary of the treasury said yesterday. >> right. >> thank you for being here. >> bromance. a lot of fun. make sure you join us tomorrow. "squawk on the street" begins right now. >>> good thursday morning, welcome to "squawk on the street" live from the new york stock exchange, i'm carl kin ten nia with melissa lee, cramer and neighborer are off today but we are joined by dennis. good morning to you dennis, thanks for coming in. futures today, a lot to deal with as you probably know. the fiscal cliff headline watch continues. you just heard john kanas say the market not too concerned. futures up 21 points. decent data out of europe, we will talk about in a minute what a day for the asian markets again. also coming up. our road map begins at andrews air force base where the president arrives in a couple of hours, cutting his hawaiian vacation short to address the fiscal cliff s there really any hope in the last attempt? does t
the market doesn't seem to care. >> all the big deal, boehner and obama tried to do last year, still have to do that, simpson boles-type thing. >> by what the secretary of the treasury said yesterday. >> right. >> thank you for being here. >> bromance. a lot of fun. make sure you join us tomorrow. "squawk on the street" begins right now. >>> good thursday morning, welcome to "squawk on the street" live from the new york stock exchange,...